CMS Finalizes 2026 PFS: Anesthesia Conversion Factor Lands at $20.4976
CMS released the CY 2026 Medicare Physician Fee Schedule final rule on October 31, 2025. The anesthesia conversion factor rises 0.88% to $20.4976 for most providers; QPP-qualifying APM participants get $20.5998 (+1.39%). The OBBBA's 2.5% bump was largely offset by methodology cuts including a 2.3% across-the-board reduction for practice expense and malpractice. Facility-based services drop 7%; non-facility settings rise 4%.